Electrical car start-up Canoo unveiled a brand new supply van Thursday forward of its public debut on the NASDAQ subsequent week.

The futuristic-looking van – referred to as a multi-purpose supply car, or MPDV, due to the methods it may be upfitted – is designed for the whole lot from last-mile deliveries to meals vehicles, based on the California firm. It’s anticipated to begin at round $33,000.

“There are various use instances that this car can do,” Canoo Chairman Tony Aquila, a serious investor within the firm, stated throughout a video unveiling of the MPDV. “We needed it to look very sensible, very fashionable however on the identical time be very inexpensive.”

Manufacturing of the car is focused to start in 2022 and ramp up in 2023. The corporate didn’t announce particular plans for manufacturing, nevertheless it has beforehand introduced a strategic relationship with auto provider and contract producer Magna International.

Such industrial autos are anticipated to be a key driver for the sale of worthwhile EVs for the automotive business. It is a section start-ups and legacy automakers need to enter quickly within the coming years. Ford Motor, which leads industrial car gross sales, plans to release an EV van in 2021, adopted by an electrical model of its F-150 pickup the next yr.

Canoo stated the MPDV might be obtainable in two sizes with various EV ranges and battery sizes. The corporate says the vary of the smaller van, referred to as MPDV1, is predicted between 130 miles and 230 miles, whereas the bigger van, MPDV2, is between 90 miles and 190 miles based mostly on battery sizes. Canoo is taking reservations and $100 refundable deposits for the autos on its web site.

Canoo is a part of a wave of recent speculative EV start-ups that plan to enter the market after going public via reverse mergers with particular objective acquisition corporations, also referred to as blank-check corporations. The corporate introduced its merger deal with Hennessy Capital Acquisition Corp. in August.

Canoo is predicted to be listed on the NASDAQ as “CNOO” on Tuesday following a shareholder assembly to approve the merger on Monday. The deal is predicted to supply Canoo with roughly $600 million to assist the manufacturing and launch of EVs.

Shares of Hennessy have been down 10% throughout noon buying and selling Thursday to about $18. The inventory remains to be up by about 69% for the reason that take care of Canoo was introduced on Aug. 18.

That is Canoo’s second deliberate car. The primary was a smaller, pill-shaped car designed extra for customers. It is anticipated to be obtainable via a membership-only car service by the corporate starting in 2022, based on Canoo.

Throughout Thursday’s car unveiling, the corporate additionally teased what gave the impression to be a automobile and pickup truck underneath two sheets.